Wanhua Chemicals realized 60.62 billion yuan in total revenue in 2018

Wanhua Chemical disclosed its annual report on April 23, 2019. In 2018, the company realized 60.62 billion yuan in total revenue, an increase of 14.1% compared with the previous year; realized 10.61 billion yuan in net profit attributable to the owner of the parent company, a decrease of 4.7% compared with the previous year; and earned 388 yuan per share. During the reporting period, the company's gross interest rate was 33.8%, 5.9 percentage points lower than the previous year, and the net interest rate was 21.2%, 3.9 percentage points lower than the previous year.

The cost of the company in 2018 is 8.5%, which has little change compared with last year. The total cost of the period reached 5.13 billion yuan, up 17.1% from the same period last year. Among them, sales cost was 1.72 billion, up 21.5% year-on-year; management cost was 1 billion, up 25.8% year-on-year; financial cost was 800 million, down 14.5% year-on-year; R&D cost was 1.61 billion, up 30% year-on-year. The company's R&D investment increased substantially, up 30% from the same period last year to 1.61 billion yuan. R&D investment is fully expended and not capitalized.

From the business structure point of view, "polyurethane series" and "petrochemical series" are the main sources of business income. Specifically, "polyurethane series" business income is 30.95 billion, accounting for 51.7%. The business income of "Petrochemical Series" is 18.91 billion yuan, accounting for 31.6%. "Fine Chemicals and New Materials Series" has a revenue of 5.7 billion, accounting for 9.5%. From the perspective of profit contribution, the gross profit contribution of polyurethane series is the largest. During the reporting period, the overall gross profit rate of enterprises was 33.8%, down 5.9 percentage points from the same period last year. Among them, "polyurethane series", "petrochemical series", "fine chemicals and new materials series" contributed 76.1%, 9.2% and 8.7% respectively, and "polyurethane series" contributed more. The gross profit rates of "polyurethane series", "petrochemical series", "fine chemicals and new materials series" are 50.3%, 10% and 31.3% respectively.